Technological innovation and sustainable development : Does the stage of development matter? |
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| Institution: | 1. Business School, Qingdao University, Qingdao 266071, PR China;2. School of Economics, Ocean University of China, Qingdao 266100, PR China;3. Institute of Marine Development, Ocean University of China, Qingdao 266100, PR China;1. School of Business, Central South University of Forestry and Technology, Changsha, 410004, PR China;2. School of Management, Hunan University of Technology and Business, Changsha, 410205, PR China;1. Othman Yeop Abdullah Graduate School of Business, Universiti Utara Malaysia, Malaysia;2. School of Creative Industry Management and Performing Arts, Universiti Utara Malaysia, Malaysia;3. School of Economics, Finance & Banking, College of Business, Universiti Utara Malaysia, Malaysia;4. The Superior College, Lahore, Pakistan;5. Peoples Friendship University of Russia, Moscow, Russia;1. School of Economics and Management, Harbin Engineering University, 150001, PR China;2. School of Management, University of Bradford, BD9 4JL, UK;3. School of Economics and Management, Tsinghua University, 10010, PR China;4. School of Economics and Management, Harbin Engineering University, 150001, PR China |
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| Abstract: | Technological innovation has generated much interest among scholars, practitioners, and policymakers as a critical instrument for achieving sustainable development. Although the relationship between technological innovation and sustainable development has been extensively discussed in the academic and policy circles, little studies have empirically examined the simultaneous impact of technological innovation on the three pillars of sustainable development. To fill this gap, the present study examines the ability of technological innovation to simultaneously promote economic progress and advance social and environmental conditions in the case of 75 low-, middle-, and high-income countries by demonstrating how this impact differs across the stages of economic development. From both long-run estimates and causality analysis, our findings reveal that technological innovation contributes simultaneously to the three pillars of sustainable development only in the case of rich countries; however, it only affects the economic and environmental dimensions in the middle-income countries, and no impact is found in the case of low-income countries. Future research directions, policy and managerial implications are also discussed. |
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